Daily Exclusive
ORYZA Rice E-Newsletter
Daily Exclusive ORYZA Rice E-Newsletter 2015 www.ricepluss.com www.riceplusmagazine.blogspot.com May 28 ,2015 Vol 5,Issue V
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Contact: Mujahid Ali mujahid.riceplus@gmail.com www.ricepluss.com & www.riceplusmagazine.blogspot.com
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Daily Exclusive ORYZA Rice E-Newsletter 2015
India's Open Market Rice Auctions Receive Lukewarm Response Due to High Prices May 27, 2015
India's rice auctions under the Open Market Sale Scheme (OMSS) since their launch on April 1 this year have received a lukewarm response from traders and private purchasers, according to local sources.With an intention to clear off the buffer stocks with the Food Corporation of India (FCI, the government of India has allowed the FCI to offload excess rice stocks to the extent of around 2 million tons to bulk buyers such as millers and traders. Any government agencies are not allowed to participate in bidding, according to local sources.However, the FCI received bids for only 350 tons so far.
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Daily Exclusive ORYZA Rice E-Newsletter 2015 An official from Food Ministry told local sources that the demand was low as the prices of Rs.2,300 per quintal (around $369 per ton) for common grade paddy and Rs.2,340 per quintal (around $375 per ton) for Grade A paddy offered by the FCI are higher than the prevailing market price. The official added that the rice price was set based on the Minimum Support Price (MSP), at which the government agencies procure rice from farmers. The minimum and maximum auction quantities of rice for sale under OMSS are 50 tons and 3,500 tons per week respectively.He noted that if the demand does not pick up, the government may decide to wind up the rice sales under OMSS.India’s rice stocks in the central pool as of May 1, 2015 stood at around 22.23 million tons (including a milled equivalent of about 7.968 million tons of paddy), down about 22% from around 28.41 million tons recorded during the same period last year, according to data from FCI. Current rice stocks are about 94% more than the required buffer and strategic reserve norms of around 12.2 million tons for this time of the year.
IPAB to Hear Basmati GI Certification Case in July 2015 May 27, 2015
The Chennai-based Intellectual Property Appellate Board (IPAB) will reportedly hear the claims of parties involved in the basmati gegraphical indications (GI) certification case for three days www.ricepluss.com & www.riceplusmagazine.blogspot.com
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Daily Exclusive ORYZA Rice E-Newsletter 2015 starting from July 8, 2015, a move that could see legal protection granted to Indian basmati rice, according to local sources.India's petition to grant a legal protection to basmati rice is being delayed since 2009, when the the Agricultural and Processed Food Products Export Development Authority (APEDA) applied for the GI protection for the first time. However, based on complaints from the Madhya Pradesh department of farmer welfare and agriculture development and some basmati exporters in the state, in December 2013, the GI Registry directed the APEDA to file an amended GI application to include Madhya Pradesh as a basmati growing area. Not convinced by the GI Registry's directive, the APEDA approached the Intellectual Property Appellate Board (IPAB) in February 2014 to decide over the inclusion of Madhya Pradesh in its Geographical Indications (GI) application. The Madhya Pradesh state farmers' body also appealed against the APEDA with the IPAB.The APEDA has been very keen on not including other basmati growing states, other than those recognized by National Agricultural Research System under the agriculture and co-operative department, in its application as it views the GI status is critical in determining the genuine basmati rice cultivators. The Commerce and Agriculture Ministries as well as some renowned agricultural scientists in India are also opposed to the inclusion of Madhya Pradesh in the definition of traditionally basmati-growing geography as it would undermine the rights of those farmers who have been traditionally growing basmati in Indo-Gangetic plain.Meanwhile, Pakistan's Basmati Growers Association (BGA) also appealed to the IPAB against granting legal protection to Indian basmati rice.A GI certification label certifies the geographical origin of a product and confirms adherence to some production standards. It also prevents producers who aren't covered by the tag from using the same thereby providing a legal protection to the cultivation and use of the specific product.
South Korea Buys 55,378 Tons of NonGlutinous Brown Rice from U.S. and China in Tender May 27, 2015
South Korea's state run Agro Fisheries & Food Trade Corporation (KAFTC) has purchased 55,378 tons of non-glutinous brown rice of the U.S. and Chinese origins, according to a statement on its website.The tonnage and price details of the various varieties of rice purchased are as below.KAFTC originally sought to purchase about 75,378 tons of non-glutinous rice via eight tenders but will announce the results for 10,000 tons of non-glutinous short-grain brown www.ricepluss.com & www.riceplusmagazine.blogspot.com
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Daily Exclusive ORYZA Rice E-Newsletter 2015 rice, 9,000 tons 10,000 tons of non-glutinous medium-grain brown rice after sample tests are complete, according to the website. Results for 10,352 tons of non-glutinous medium-grain rice are also not specified by the KAFTC.
Oryza Overnight Recap – Chicago Rough Rice Futures Remain Under Pressure from Lack of Demand May 27, 2015
Chicago rough rice futures for Jul delivery are currently seen paused 1.5 cents per cwt (about $0.33 per ton) lower at $9.405 per cwt (about $207 per ton) during early floor trading in Chicago. The other grains are seen trading with mixed results; soybeans are currently seen about 0.2% higher, wheat is listed about 1.3% lower and corn is currently noted about 0.9% lower.U.S. stocks traded higher on Wednesday, recovering some of Tuesday's sharp decline, as investors eyed Greece headlines amid continued rise in the dollar and bond yields. The Dow Jones industrial average traded about 105 points higher. The blue chip index fell as much as 242 points on Tuesday before closing 190 points lower. European stocks opened higher and rallied on encouraging reports out of Greece. The German DAX gained more than 1 percent, while Greece's ATHEX Composite traded 3.5% higher. No major data is expected Wednesday. Weekly mortgage applications dropped 1.6% as higher rates put a pause on refinancing. Investors will continue to watch the Dow transports, which attempted to trade about half a percent higher. The index extended its recent selloff on Tuesday, with its 50-day moving average falling below its 200-day moving average. Gold is currently trading slightly higher, crude oil is seen trading about 0.4% lower, and the U.S. dollar is currently trading about 0.1% higher at 8:30am Chicago time.
Thailand Rice Sellers Lower Some of Their Quotes Today; Other Asia Quotes Unchanged May 27, 2015
Thailand rice sellers lowered their quotes for Hommali rice by about $10 per ton to around $850 - $860 per ton today. Other Asia rice sellers kept their quotes mostly unchanged today. 5% Broken Rice www.ricepluss.com & www.riceplusmagazine.blogspot.com
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Daily Exclusive ORYZA Rice E-Newsletter 2015 Thailand 5% rice is indicated at around $370 - $380 per ton, about a $20 per ton premium on Vietnam 5% rice shown at around $350 - $360 per ton. India 5% rice is indicated at around $370 - $380 per ton, about a $35 per ton discount to Pakistan 5% rice shown at around $405 - $415 per ton. 25% Broken Rice Thailand 25% rice is shown at around $350 - $360 per ton, about a $25 per ton premium on Vietnam 25% rice shown at around $325- $335 per ton. India 25% rice is indicated at around $345 - $355, about a $15 per ton discount to Pakistan 25% rice shown at around $360 - $370 per ton. Parboiled Rice Thailand parboiled rice is indicated at around $370 - $380 per ton. India parboiled rice is indicated at around $360 - $370 per ton, about a $45 per ton discount to Pakistan parboiled rice shown at around $405 - $415 per ton. 100% Broken Rice Thailand broken rice, A1 Super, is indicated at around $315 - $325 per ton, about a $5 per ton premium on Vietnam 100% broken rice shown at around $310 - $320 per ton. India's 100% broken rice is shown at around $275 - $285 per ton, about a $30 per ton discount to Pakistan broken sortexed rice shown at around $305 - $315 per ton.
Global Rice Quotes May 28th, 2015 Long grain white rice - high quality Thailand 100% B grade 375-385
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Vietnam 5% broken
350-360
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India 5% broken
370-380
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Pakistan 5% broken
405-415
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Myanmar 5% broken
420-430
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Cambodia 5% broken
430-440
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U.S. 4% broken 465-475
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Daily Exclusive ORYZA Rice E-Newsletter 2015 Uruguay 5% broken
565-575
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Argentina 5% broken
555-565
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Long grain white rice - low quality Thailand 25% broken
350-360
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Vietnam 25% broken
325-335
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Pakistan 25% broken
360-370
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Cambodia 25% broken
410-420
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India 25% broken
345-355
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U.S. 15% broken
455-465
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Long grain parboiled rice Thailand parboiled 100% stxd
↓
365-375
Pakistan parboiled 5% broken stxd
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405-415
India parboiled 5% broken stxd
350-360
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U.S. parboiled 4% broken
555-565
↔
Brazil parboiled 5% broken
570-580
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Uruguay parboiled 5% broken
NQ
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Long grain fragrant rice Thailand Hommali 92% 845-855 ↓ Vietnam Jasmine 470-480 ↔ India basmati 2% broken NQ ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Mails 815-825 ↔ Brokens Thailand A1 Super 315-325 ↔ Vietnam 100% broken 310-320 ↔ Pakistan 100% broken stxd 305-315 Cambodia A1 Super 350-360 ↔ India 100% broken stxd 275-285 ↔ Egypt medium grain brokens NQ ↔ U.S. pet food 365-375 ↔ Brazil half grain NQ ↔
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All prices USD per ton, FOB vessel, oryza.com
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